NREA supports HDMF’s new program

The National Real Estate Association (NREA), the country’s one-stop trade organization, has expressed strong support to the new program and policy initiatives being undertaken by the Home Development Mutual Fund (Pag-IBIG) to make its home financing program more responsive to the housing requirements of its members.

NREA chairman, Jose V. Manalad and national president, Dante V. Liban cited that among these measures include the recent reduction of interest rates for Pag-IBIG housing loans, in response to the decrease in prevailing credit interest rates in the market, which has boosted loan availment and home acquisition particularly by the low-income beneficiaries.

Under the stewardship of Lawyer Romero Federico S. Quimbo, Pag-IBIG president and chief executive officer, Pag-IBIG has continually addressed housing loan availment issues, in consultation with the private sector, meant to further facilitate institutions, subdivision developers and real estate brokers.

In support of Pag-IBIG’s home financing initiatives, Manalad and Liban also called on the private housing sector to mobilize its expertise and resources to boost the production of low-cost housing units, which could be purchased by Pag-IBIG members to meet their shelter requirements.

It is to drum up support to President Arroyo’s housing program that NREA will hold its 7th National Conference and Exhibits on Sept. 27, 2002 at Kalayaan Hall, Club Filipino, Greenhills, San Juan, Metro Manila, according to Manalad and Liban.

The one-day convention, focused on the theme, "Urban Development Well into the 21st Century", will address current housing concerns within the bigger context of urban development, with experts resource persons, including world-renowned architect Felino Palafox Jr., and architect Nestor Mangio, as speakers.